Eirlock S.W.O.T. Analysis
Word count: 550
Table 1
Strengths:
• Wide Skill Set
• Electrical expertise
• Infrastructure – services and location
• Eirlock is a well-established brand
• Sustained sales in car anti-theft device market
• Modern equipment
• Established supply chain
• Room for expansion Weaknesses:
• Management structure
• Research and Development programme
• Product promotion
• Short sighted staff
• No mission statement
• No corporate objectives
• No design portfolio
• No Sales Team
Opportunities:
• Advertising and promotion
• Motivate staff
• Diverge into different markets
• Government Grants
• Market expansion
• Merge with suppliers
• Go into competition with supplier
• Increase market share Threats:
• Overseas competition…show more content… McCarthy. The company is 100% family owned. Eirlock is an engineering fabrication company situated on a 1000sq.m factory with room for expansion. The factory is facilitated with a good infrastructure and up to date equipment. Reacting to the growing number of car thefts, Eirlock decided to manufacture a car anti-theft device, this product was similar to the Krooklock anti theft device. Sales of the product have gradually risen, reaching a peak in 1994.
Eirlock has recently begun to manufacture under contract, electrical control cabinets. Due to the nature of this product Eirlock now has expertise in electronics. The company has a wide skill set from electrical and mechanical technicians, fabricators fitters and assembly operators.
The company is 100% family owned with founder Mr J. McCarthy in charge of sales and obtaining new sub-contract work while his son John McCarthy manages production. Shop floor supervision is divided between a fabrication foreman, an electrical supervisor and an assembly supervisor. There is no evidence of a research and development…show more content… Idea Screening: Critically asses each idea. Drop non winners as soon as possible. This can reduce the risk of failure. Examine cost requirements; raw materials needed and the minimum market share needed to be viable.
4. Concept Testing: Test new concepts with potential customers. Get feedback and redesign if necessary.
5. Business Analysis: Review product sales, costs and profit projections and compare with company objectives.
6. Product Development: Develop a prototype, is the manufacturing system feasible. Consider safety requirements and regulations in place in order to go market.
7. Test Marketing: For a large project test each element of the marking mix. A controlled approach is selective in what is tested. Perform simulated test marketing. This takes a scientific approach in reality this can give poor results
8. Product Launch: Timing is critical. Select the best time to launch a new product. Will the product be rolled out on a full scale launch or will a limited launch be better suited. Marketing tools should be used. The media, trade shows, promotion at the retailers are all great launch strategies. Gather information on the response of the new products from the market. How is it being received? If any issues arise is there an action plan to resolve